So Hollywood stuck itself in the bailout, talk about sleaze.

[RB TexLa]

Sounds like the actress in the second article's favorite words are "we deserve."



Hollywood may benefit from U.S. bailout: LA Times

(Reuters) - Hollywood may benefit from the proposed $700 billion bailout of the U.S. financial system, the Los Angeles Times said late on Wednesday.

The plan which was endorsed by the U.S. Senate would provide tax breaks worth more than $470 million over the next decade for movie and TV producers that shoot in the United States, the paper said.

One provision in the bill would provide film and TV producers with the same tax deductions that American manufacturers such as General Motors Corp and Boeing Co receive for making their products at home, according to the paper.

Specifically, the legislation would allow filmmakers who shoot in the U.S. to qualify for a tax deduction granted in 2004 to domestic manufacturers that capped the top tax rate at 32 percent instead of 35 percent, the paper said.

Additionally, the tax package lifts the budget cap on the existing tax deduction, which was limited to movies that cost less than $15 million to make -- in effect excluding most studio films, which cost a lot more, according to the paper.

The provisions were part of a broad tax extension bill approved earlier by the Senate and then folded into the revised bailout legislation that it passed Wednesday, the paper said.

http://www.reuters.com/article/industryNews/idUSTRE49126E20081002



"Well, it's great," said Annette Bening, who arrived at ArcLight Hollywood with husband Warren Beatty. "I think we all need to be educated more about why it's important to pass the bailout. And from everything that I understand, it's a way of us moving forward. I'm glad that the Senate did that, and I hope that the House follows."

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/10/02/entertainment/e115034D73.DTL

[JuniperLea]

1. Do you want to bring business back to the US, or not?

I don't like this bailout... not one little bit... and after the investor focus group discussion this morning, I like it even less. However, if it's going to pass, I'm happy to see provisions that offer tax cuts for doing business on American soil instead of foreign soil.

[RB TexLa]

7. Let's guess those non-Americans aren't worthy of having jobs?

Just a little less equal than Americans, I guess?

[ContinentalOp]

10. WTF are you talking about? You're in favor of jobs going overseas?

You would rather have film shoots continue to take place in Toronto or Prague so that the studios can save a few bucks?

[tpsbmam]

12. The poster didn't say that.

The attribution is unfair. It's not about non-Americans being worthy or unworthy of having jobs, it's about bringing jobs we've been shipping to other countries back to the US. It's about bringing industries back to the US. It's about rebuilding this crappy economy. The more we ship jobs overseas, the less jobs there are for Americans. We not only need to build industries (e.g., alternative energy production) but we need to bring back the industries who've moved production out of the country.

Our economy is in the dumper and we need to be creating jobs, not losing them as we have been. And, among other variables, we've seen what happens to inflation when we import so much of what we purchase -- when oil goes up, our prices go insane. Part of that is due to so much of what we consume being shipped from overseas. We need to reverse that pattern.

We need to once again build the working and middle classes. We need jobs! And yes, we need to be giving those jobs to Americans.


(Edited for typo.)

[ContinentalOp]

14. Not to mention that this is taking tax breaks that already apply to manufacturers...

and merely extending them to film production. Seems fair to me. It's not like this is a big tax break to oil companies that does nothing but give them more corporate profits. This will actually bring back some jobs that have already left the country.

And by the way, because of the week dollar, some of the runaway production has already started to return to the US and one area that's booming is Shreveport Louisiana. So this isn't just an L.A. thing either but could potentially help bring some jobs back to areas of the country that are really hurting.

[JuniperLea]

19. Exactly right

Thanks for putting it in detail... I really didn't think I needed to, but, well, you know...

[rucky]

22. Universal healthcare would be a bigger incentive to keep them here.

just sayin'

[ContinentalOp]

25. Huh? How so?

You think crews get health care? Maybe through their guild or union. How is universal health care going to convince a production to stay in the US rather than going to another country with better tax incentives?

[rucky]

28. That was Ford's excuse for offshoring.

:shrug:

[Zuiderelle]

2. This is what you choose to complain about? A tax deduction for doing business in the US?

...that would generate American jobs and income? Not to mention that it's a deduction already given to other businesses for the same reasons.

[OmmmSweetOmmm]

3. That's not a bad thing at all. There have been a lot of film companies that have left to shoot

outside of the US because it was too costly here.

NY (and not just the city) offers breaks and that's why we're rebuilding the tv and film industry here. The show Betty Ugly just moved here and I'm sure they were lured here by NYC tax breaks.

[tpsbmam]

4. This'll hopefully bring a lot of movie-making business back to the US

So many films are filmed elsewhere now to cut costs it drains lots of potential income away from cities & states, not to mention putting people to work here instead of abroad. If it helps to bring more movie making back to the states, this is a good thing.

[nadinbrzezinski]

5. I guess it is best if we have these movies produced in oh

I don't know North Africa.... :sarcasm:

[grassfed]

6. Toronto is a huge foreign shoot destination

The Canadians also have tricks like demanding to open film cans at the border (pretending to look for drugs) and exposing them so US producers who shoot in Canada are forced to use Canadian labs to develop their negatives before shipping them back to the US.

[guitar man]

8. Jim Carrey is a riot

"I am feeling really good about this Sarah Palin," Carrey said, "because I used to live in Canada and you could to see Alaska from there. So I know everything there is to know about her."

:rofl:

[ContinentalOp]

9. Sleaze? F you too. Yeah, the $700billion handout to wall street crooks isn't sleaze...

but helping keep American jobs on American soil is?

[iiibbb]

11. I don't think anyone has any idea what to do right now...

...to complicated a problem.
...to much urgency.
...to much election static.
...to many people claiming to know.

We're not going to get this thing fixed until after the election. That is a fact.

[Bluenorthwest]

13. The Entertainment Industry is an Industry, not a town

And while I am no fan of this bail out, it is high freaking time that some action be taken to keep our production in the US, for the good of workers and local economies that benefit from location work.
This has been a key issue for years in the business. It is called 'runaway production' and we badly need incentives to keep production here, as the other competing countries offer big incentives.
This was nailed onto the stank bail out. But the issue is actual and important.
I read the second article. Bening used the word 'deserve' by way of saying that Palin needs to speak out and should be questioned on all issues. Maybe that was over your head. Palin does not speak, Bening says America deserves to hear. See?

[ContinentalOp]

15. No, it's those damn Hollywood liberal elites you see.

They think they "deserve" everything. :eyes:

[RB TexLa]

16. I was talking about where the actress was wanting the bailout passed because

her industry "deserves" the tax breaks.

[tpsbmam]

17. Where does she say that?

Here is her entire quote about the bailout:

It was also movie stars voicing concerns for an ailing nation following the Senate's approval Wednesday of the $700 billion economic bailout plan.

"Well, it's great," said Annette Bening, who arrived at ArcLight Hollywood with husband Warren Beatty. "I think we all need to be educated more about why it's important to pass the bailout. And from everything that I understand, it's a way of us moving forward. I'm glad that the Senate did that, and I hope that the House follows."
............................

Where does she say the film industry "deserves" anything?

[RB TexLa]

20. When the actress says the bailout with this provision should be passed

[tpsbmam]

23. WHERE does she say that? You quoted her as saying they deserve the tax break....

could you please copy and post that quote because I simply don't see it in the article. The quote I saw said the bailout should be passed -- where does she day specifically the bailout with this particular provision? Where is this provision mentioned at all i the article?

[Bluenorthwest]

24. The actress. What a fucking way to speak of a person

who you are quoting, a person whose name is in your OP. You have a thing against creative artists or what? Actors bug ya?
Ms Bening says we should be more educated on the issue. Terrible. That we need to do something. That keeping jobs here keeps people eating dinner. Awful.
And no where does she say what you claim she says.

[Bluenorthwest]

21. The tax breaks are a long term goal

That were tacked onto the bail-out. For those in the industry, those provisions are very important. It would have been nice to see them pass solo, but they used them as 'pork' to lure votes to a bad bill.
In my view, all industry deserves law that encourages business activity here at home, and no industry deserves law that favors other nations, as the current set up does. Also, by the way, all industries have people who make tons of money. The difference in showbiz is that some of those who make bank are creative artists. How awful.
Are you under the impression that tax breaks for businesses are rare?

[ContinentalOp]

26. What kind of work do you do?

You have never supported a measure that would help keep your industry's jobs in the US?

[xyouth]

18. I have been in the film industry for in Philadelphia for 19 years.

When NAFTA was signed 95% of my work went up to Canada. It really sucked! American cities want film production, because it pumps Millions into a local economy. It is also a great export. I think many people wold be amazed at how little a Union crew member gets paid compared to another trades. The reason for that is because our jobs, unlike the building trades and truckers, can go overseas. Actors, directors, producers and all the other above the line guys, can go to cheaper areas to work, it is pretty much all the same to them. So please don't think for one second this is a rich Hollywood giveaway. This entire bill should be about creating and keeping jobs in the USA,. and fuck the bastards who started this mess.
We all should also start to protest the crap we buy, and start a demand for American made goods. Lets face it, is that cheaper t-shirt you bought really worth your job.:rant:

[Hell Hath No Fury]

27. Wow, you don't know much about the film industry, do you?

When productions film in the US, they can mean good union jobs and 10s of thousands of dollars pouring into the local economy. When you shoot on location, you are talking about transportation, housing, food -- with all that resulting $$$ being pumped into cities and towns.

Filming in the US became prohibitively expensive, even for directors who really wanted to shoot here. Canada and some of the former Eastern bloc countries became the new locations -- cheap, cheap, cheap everything, and no unions to deal with.

If they offered tax breaks for the film industry to keep the shooting here, I htink that would be tremendous.

More jobs, more local money, more revenue.

[depakid]

29. A new enemy to point at?

Come one now.